Chapter Preview
Human resource management (HRM) is an approach to managing people in an organization, encompassing processes such as human resource planning, recruitment, training, performance appraisal, and compliance with key legislation. This chapter explores the importance of inclusion, diversity, equity, and accessibility, factors crucial for employee retention, various compensation methods, and reasons for employment termination, providing a comprehensive overview of HR practices that contribute to a desirable workplace.
Learning Objectives
After reading this chapter, you should be able to do the following:
- Define human resource management (HRM).
- Explain the human resource planning process.
- Explore the recruitment and selection process.
- Describe how companies train and develop their employees.
- Outline the three-step performance appraisal process.
- Express the importance of inclusion, diversity, equity, and accessibility as business practices and their value to a company.
- Discuss factors that are crucial in employee retention and contribute to an organization being a desirable workplace.
- Identify ways in which companies compensate employees for their work.
- List reasons for voluntary and involuntary employment termination.
